The melody is “Chugoku-Chiho no Komoriuta”, a lullaby of the Chugoku-Chiho region of Japan, and this recording is from a broadcast on KPFK-FM Los Angeles in November 1970. The voices you hear at the beginning are the comedy group Firesign Theatre; this was their show, called "Dear Friends".

I have a big list of records that this ISN’T, but I still have no idea what it is. Anyone have this in his crates?

Because I’m so desperate, I’ll gladly mail a CD of Les Baxter’s scarce Dunwich Horror Soundtrack to the first person who correctly identifies the source LP for this cut.